Clinton Library Funded By OffShore Tax Haven

Hillary Clinton is
repeating the Democrat trope about “offshore tax havens” that immorally divert
profits from workers and the taxman. Closing these is a central plank of her
promised agenda as President, she explains in an op-ed
laying out her economic agenda.

Setting aside the economic merits of her plan, the proposal
is a little rich coming from Hillary Clinton.

Just ten years ago, when she and Billwere building the Clinton
Presidential Library, they received a critical short-term loan from
a supporter’s “offshore tax haven.” Like most everything else with the Clinton family,
the rules and policies they promote are for other people.

Or, it’s possible that the Clintons focus their policies on
particular abuses and unethical actions because, having benefited from them,
they have a unique perspective on how these actions work.

When the Clinton Library opened in 2004, it obtained
a $10 million loan from Titanium Acquisition Corporation, a
Delaware-based company owned by Haim Sabin, a Democrat media mogul and close
friend of the Clintons.

The loan was bridge-financing to cover construction-related
expenses as the Library waited to receive pledged donations. It was repaid
several months later, with Sabin forgiving the 2.8 percent interest charged for
the loan.

A subsequent federal investigation found that Titanium was
created by Sabin, and his tax lawyers and accountants, to avoid taxes on his
sale of Fox Family Channel to Disney. Sabin earned $1.7 billion from the sale
of the channel. A Senate Subcomittee investigation found that Titanium used a
shell-corporation in the Isle of Man, a well-known tax haven, for a series of
complex stock transactions to avoid all taxes on the sale.

Testifying before the Senate Subcommittee, Mr. Sabin said
the complicated deal was intended to provide “full tax deferral of the Disney
sale, ad infinitum.”

It is worth reviewing the Senate’s summary of Sabin’s deal
to avoid taxes. It provides
a rare glimpse into the opaque world of high-level, phantom
transactions to avoid taxes:

To review, a phony Isle of Man corporation sold stock it
didn’t own to another phony Isle of Man corporation for money it didn’t have.
The fake stock was lent back with fake cash as security for repayment of the
loan, and the fake loss on the stock price was transferred out to offset real
gains. No real economic activity took place, but one critical thing happened –
a $9 billion paper portfolio was created. This paper portfolio originated with
Jackstones and Barnville, shell operations with no employees, no offices, and
paid-in capital of £2 – that’s about $5 each.

The final step in the POINT scheme was for Barnville to sell
the paper losses to wealthy individuals, including Haim Saban and Robert Wood
Johnson IV. These clients used the paper losses to offset real capital gains.
Mr. Saban used POINT to offset about $1.5 billion in capital gains; Mr. Johnson
offset about $143 million.

Of course the other individual noted in the Senate report is
an heir of the Robert Wood Johnson fortune. The family’s eponymous foundation
is a major donor to countless left-wing causes and organizations.

As Hillary amplifies her campaign rhetoric against “tax
havens” it is worth remembering, then, that the $10 million bridge loan from
Sabin to the Clintons was from proceeds of transactions with an “offshore tax
haven” whose sole purpose was to divert profits and avoid federal taxes.

Sabin’s use of the offshore tax havens to avoid taxes on a
multi-billion dollar sale was so egregious, in fact, that it caught the
attention of the IRS. Sabin was ultimately forced to settle with the IRS,
paying
$250 million to avoid charges of tax evasion. His advisors, however,
were convicted of federal crimes.

In spite of the public revelations of his tax avoidance
scheme, Mr. Sabin remains a close confidante of the Clintons. He and his wife,
Cheryl, have
contributed $10-25 million to the Clinton Foundation. Cheryl Saban
is a voting
member of the Clinton Foundation Board.

In May, Bill Clinton earned
$250,000 for a speech at Univision, the Spanish-language network owned
by Haim Sabin.
A day after Bill
Clinton’sspeech was announced,
Sabin hosted a
$2,700 a plate fundraising for Hillary Clinton at his Los Angeles
home.

Close the loopholes and end the tax breaks that allow a few
big corporations to profit just by stashing their money in offshore tax havens
with the help of their lawyers and accountants. I’ll encourage companies to
share corporate earnings with their workers, not just their executives.

Clinton, to be fair, is in a particularly special position
to understand how “offshore tax havens” work and how those loopholes can be
“closed.” At the next board meeting of the Clinton Foundation or a future
fundraiser for her Presidential campaign, she can simply ask Haim Sabin about
them.

He has profited handsomely off such transactions and can no
doubt provide her with some real-world experience about them. That is, after he
writes her family another round of checks.

Internal
Revenue Service (IRS)

Charles O.
Rossotti was the commissioner for the Internal Revenue Service (IRS),
and is a director at the Atlantic Council of the United States (think tank).

Note: Open
Society Foundations was a funder for the Atlantic Council of the United
States (think tank), the Bill, Hillary & Chelsea Clinton Foundation,
and the American Constitution Society.

George Soros is the
founder & chairman for the Open Society Foundations, a co-chair,
national finance council for the Ready PAC (Ready for Hillary), and was the
chairman for the Foundation to Promote Open Society.

Foundation
to Promote Open Society was a funder for the Brookings Institution
(think tank), the NAACP Legal Defense & Educational Fund, and the
Aspen Institute (think tank).

Denise Rich was a
major contributor for the William J. Clinton Presidential Library, a
funder for the Bill, Hillary & Chelsea Clinton Foundation, and
married to Marc Rich.

William J. Clinton
pardoned Marc Rich in Jan. 2001, is married to Hillary Rodham Clinton,
and the founder of the Bill, Hillary & Chelsea Clinton Foundation.

Hillary Rodham
Clinton was a director at the Bill, Hillary & Chelsea Clinton
Foundation, the U.S. Department of Statesecretary, and
married to William J. Clinton.

Haim
Saban was a funder for the Bill, Hillary & Chelsea Clinton
Foundation, is the chairman
for Univision Communications Inc., a
benefactor for the Saban Center for
Middle East Policy, and a trustee at the Brookings Institution (think tank).

Since
then, Bill Clintonhasn’t
stopped apologizing for the pardons of Marc Richand Pincus Green. “It was terrible politics. It wasn't worth the damage
to my reputation,” he told Newsweek in 2002—and, indeed, speculation
was rampant that Rich (and his ex-wife) had bought the pardon by, in part,
donating $450,000 to Clinton’s presidential library.
Clinton denied that the donations had anything to do with the pardon, instead
claiming that he took Holder’s advice
on the matter. Holder, for his part, has distanced himself from the pardons as
well. As the House Government Reform Committee report put it, he claimed that
his support for the pardon “was the result of poor judgment, initially not
recognizing the seriousness of the Rich case, and then, by the time that he
recognized that the pardon was being considered, being distracted by other
matters.”

Pincus Greenis a co-founder for Marc Rich &
Company, and was pardoned by William J.Clinton in Jan. 2001.

Henrietta
Holsman Fore is a trustee at the Aspen Institute (think tank), a
member of the Belizean Grove, and was a director at the Clinton Bush
Haiti Fund.

Henry A. Kissinger was a lifetime trustee at the Aspen
Institute (think tank), is a member of the Bohemian Club, a director at the Atlantic Council of the United
States (think tank), a director at
the American Friends of Bilderberg (think tank), and a 2008 Bilderberg
conference participant (think tank).

Charles O.
Rossotti and is a director at the Atlantic Council of the United States
(think tank), and was the commissioner for the Internal Revenue Service (IRS).

No comments:

Sam on Bob Harden Show

Who Is Aristotle the Hun

"Aristotle the Hun" was the name given to me more than 30 years ago when a friend noticed that in spite of my intellect I was still an Iowa farm boy.

Rev. Sam Sewell, is Director of Best Self USA, a Pastoral Psychotherapist, serves on the faculty of Naples Community Hospital as an instructor for Clinical Pastoral Education, President of the Theological Center in Naples, a member of Mensa where he serves as Gifted Youth Coordinator, a U.S. Navy Veteran, and a Member of the Association For Intelligence Officers. He is a frequent commentator on mental health and religious issues.His award winning research on family issues is published in several languages. Member of Sigma Delta Chi Honor Society

Videos - One of Five

Quotation Gallery

"Though defensive violence will always be 'a sad necessity' in the eyes of men of principle, it would be still more unfortunate if wrongdoers should dominate just men."- St. Augustine

"A new idea is first condemned as ridiculous, and then dismissed as trivial, until finally it becomes what everybody knows." -

William James

"This is the real task before us: to reassert our commitment as a nation to a law higher than our own, to renew our spiritual strength. Only by building a wall of such spiritual resolve can we, as a free people, hope to protect our own heritage and make it someday the birthright of all men." --Ronald Reagan

A patriot must always be ready to defend his country against his government."-- Edward Abbey

"War is an ugly thing, but not the ugliest of things; the decayed and degraded state of moral and patriotic feeling which thinks nothing worth a war, is worse. A man who has nothing which he cares more about than he does about his personal safety is a miserable creature who has no chance at being free, unless made and kept so by the exertions of better men than himself."John Stuart Mill

"A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government." ~~~George Washington

"I'd rather entrust the government of the United States to the first 400 people listed in the Boston telephone directory than to the faculty of Harvard University." William F. Buckley, Jr.

"Conservatives are enemies of the government. Liberals are enemies of the nation because they are not enemies of the government."Aristotle the Hun

"If we knew what it was we were doing, it would not be called research, would it?"Albert Einstein

"Life is not about waiting for the storms to pass...it's about learning how to dance in the rain." ANON

"That government is best which governs least."Thomas Paine

“A nation that substitutes emotion and empathy for rational thought will eventually digress into the Dark Ages,”Congressman Steve King (R-IA),

INTEGRITY: The highest courage is to dare to be ourself in the face of adversity. Choosing ethics over convenience and truth over popularity means there is never a wrong time to do the right thing.

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies.

The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

They may be more likely to go to Heaven for good intentions yet at the same time likelier to make a Hell of earth. This very kindness stings with intolerable insult. To be “cured” against one’s will and cured of states which we may not regard as disease is to be put on a level of those who have not yet reached the age of reason or those who never will; to be classed with infants, imbeciles, and domestic animals.~ C. S. Lewis

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." ANON

Guide for newbies!

This blog was started to give people a source of information they can trust. I almost never make the mistake of including scams, false rumors, or poorly researched items. I encourage readers to alert me if they spot an anomaly. It will be quickly corrected.

The search function is in the upper left hand corner. Readers are invited to cut and paste from this blog to your own emails. Each subject title has an embedded link so cut and paste the title and the first few lines. That will direct a person back to this blog.

Below the usual ad and personal profile you will find links to topics located on the right hand side of the page. You may find it easier to select topics of interest to you rather than scrolling all topics as they occur chronologically. (Gee, that's a six syllable word!)

The government is conspiring against the citizens. The citizens have pitchforks, torches, tea bags, tea parties, Grand Juries and the Constitution. The government doesn't stand a chance!

Our other web pages-blogs

The famous Chapter 16 from "I Fired My Doctors" thathas become a "best seller" as a separate publication.

"The stress management chapter alone is worth the price of the book.”
Selwyn Mills, PhD